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Ever wonder why that tiny receipt feels like it weighs a ton? It might seem like a pain to keep those little paper scraps, but trust us, they’re your best friends come tax time. Here at BASC Expertise, we know bookkeeping can feel like a chore, but we’ve got your back. Let’s break down why […]
Why Receipt Retention Matters for Your Business Read More »
So you ditched the 9-to-5 to be your own boss? #Respect! But hold on to your unicorn mug – running a business is more than just following your passion (although that’s pretty darn important too). You gotta keep your finances in check, or your dream career could turn into a nightmare. That’s where bookkeeping comes
Bookkeeping Tips for Creative Bosses Read More »
Ever feel like your finances are a jumbled mess of receipts and bank statements? Yeah, us too. Running a business is awesome, but the money side can get confusing fast. Enter bookkeepers and accountants – your financial superheroes here to save the day (or at least tax season)! But what’s the difference between these two?
Understanding the Roles of Bookkeepers and Accountants Read More »
Have you ever gotten a quote for a service and thought, “Wow, that’s expensive!” only to realize later that the initial sticker shock masked a deeper truth? This happens a lot in the world of accounting and taxes. In today’s post, we’ll share a real-life scenario to illustrate why the true cost of doing your
The Hidden Costs of “Going Cheap” on Your Taxes and Finances Read More »
Hey there! Believe it or not, we’re halfway through 2024 already. Now’s the perfect time to take a pit stop and assess your financial health. Here’s how to make it a breeze: Think of this like tidying up your financial desk. Are your receipts organized? Are your bank statements reconciled? Having everything categorized and up-to-date
It’s Time for Your Mid-Year Financial Check-In! Read More »
Do you ever feel like your finances are cluttered and chaotic? You’re not alone. Many business owners struggle with bookkeeping, feeling overwhelmed by complex systems and overflowing inboxes. But what if managing your money could be simple and even joyful? Here’s how to apply the KonMari method, popularized by organization guru Marie Kondo, to your
Follow Marie Kondo Method for your Business Read More »
Keeping your business finances organized can feel overwhelming. You might be wondering what a bookkeeper does and how they can help your business. This post will explain what to expect when you hire a bookkeeper and the value they can bring to your company. What Does a Bookkeeper Do? Think of a bookkeeper as
What It Looks Like to Work With a Bookkeeper Read More »
Do you drive yourself to work? If so, you might be thinking about additional expenses such as parking fees, gas, etc. Here’s some good news for you! You can log your mileage and get your tax deducted! You can now drive to work with the music blasting in the background without worrying too much by
Business Mileage: Everything You Have To Know Read More »
The IRS and companies frequently disagree on whether workers should be classified as employees or independent contractors. Many firms prefer to characterize their personnel as independent contractors, but the IRS often considers them misclassified employees. Sometimes the matter ends up in court. Fortunately, companies may acquire some protection if the IRS contests the categorization of
Of all the business entities someone could form, the S corporation is by far the most misunderstood. This is because the S-Corp is a tax designation rather than an actual business entity. Both limited liability companies (LLCs) and corporations can file to be taxed as an S corp. However, no state offers entrepreneurs the option
The S-Corp Tax Election and What it Can Mean to You! Read More »
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